There is a shortage of sunflower oil on the world market

There is a shortage of sunflower oil on the world market due to the conflict between Russia and Ukraine, which led to the suspension of sunflower processing in Ukraine and exports. This affects supply in the EU, North Africa, the Middle East, India, China and other countries. At the same time, the replacement of sunflower oil with rapeseed, soybean, palm and corn oil will be limited, since their supply is also not large, analysts at Oil World (Germany) say. In particular, with regard to the European market, the volume of supplies of sunflower oil from Ukraine to the EU countries in October-December 2021 amounted to 1.52 million tons, which is less than the figure for the same period in 2020 (2.16 million tons), but, however, accounted for 86% of the total supply of this product in the EU. It is also noted that the export of sunflower oil from Argentina to the EU in the specified period amounted to only 10 thousand tons, but in the near future demand from European countries may ...